Phoenix is a leading US market for hotel construction
Aug 5, 2024, 4:05 AM
expand Workers on the job at VAI Resort on Nov. 30, 2023. The VAI Resort in Glendale is expected to open in 2025. (Brandon Brown/Phoenix Business Journal)
(Brandon Brown/Phoenix Business Journal)
Phoenix is one of the top markets in the United States for new hotel construction, according to a report released this week by Lodging Econometrics, a company that tracks hotel and lodging industry data.
Currently there are 120 projects with a total of 15,627 rooms in the Valley’s hotel construction pipeline, according to the report. The only markets with more projects under construction were Dallas, Atlanta, California’s Inland Empire and Nashville.
A year ago, Lodging Econometrics’s Q2 report showed that the Valley’s pipeline had 119 projects with 16,107 hotel rooms in it.
The largest project under construction right now is the first phase of the VAI Resort in Glendale, which is expected to deliver 1,100 hotel rooms and open in 2025.
The report showed that at the end of the second quarter, there were 22 hotel projects in active construction in the Valley. That is tied with Nashville for fifth most in the U.S. Phoenix’s projects account for more rooms at 3,993, compared to Nashville’s 3,049 rooms.
For context, a 2023 report from CoStar found that the Valley had 25 hotels under construction with plans to add 4,527 new rooms.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
